Working with multiple realtors

What is the general consensus regarding an owner not wanting to sign an exclusive listing agreement with one realtor? Is it frowned on to simply offer up a flat percentage to anyone willing to bring a tenant? What is the downside to this?

Answer(s)

the downside is that this is a disadvantage to both the broker and the owner. it's at the bottom of the broker's list becasue he or she has been hired (by listing agreements) to market other client's properties. also, if the broker chooses to work on the unlisted property, they may put in a lot of time and get an offer, only to find that the property has already sold. in the current market, it's best to find a competant broker and make sure they continually market the property.

I must agree with Dan. Any commercial broker will tell you (or maybe they won't if they are less than ethical);) that without a executed listing agreement they won't spend much time, if any, marketing an owner's property. Signs, flyers, email blasts, open houses, etc. all of these marketing tools can be fairly expensive; without a guarantee that they will be paid if they procure a deal, it doesn't make sense to spend any time marketing the property. A listing agreement will better ensure that an owner has a dedicated broker representing them.